Parcion Private Wealth LLC Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Parcion Private Wealth LLC reduced its position in Intel Co. (NASDAQ:INTC) by 4.4% in the 4th quarter, Holdings Channel reports. The fund owned 68,837 shares of the chip maker’s stock after selling 3,168 shares during the period. Parcion Private Wealth LLC’s holdings in Intel were worth $1,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC grew its stake in shares of Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Van ECK Associates Corp grew its stake in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Intel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock valued at $743,457,000 after buying an additional 2,248,332 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

NASDAQ INTC opened at $25.72 on Thursday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $46.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The company has a 50-day moving average price of $20.53 and a two-hundred day moving average price of $21.56.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Sell-side analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the subject of several research reports. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Truist Financial decreased their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Stifel Nicolaus decreased their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Finally, Barclays decreased their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $26.88.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.